acquired by

Edgemont’s market insight and strong transaction execution delivered an outstanding outcome for the PSR’s shareholders as well as a tremendous strategic fit for Intermedix. Their healthcare industry focus, knowledge of the Emergency Medicine and hospital-based physician services sectors allowed the Edgemont team to hit the ground running.

David Singley, CEO, Practice Support Resources

Case Study

Practice Support Resources acquired by Intermedix

To secure a premium valuation for Practice Support Resources (PSR)—a management services company for emergency medicine physician practices—that wanted to close quickly to take advantage of a tax rate timing opportunity.

From finance and accounting to billing and collection, PSR’s exceptional management services for 56 large physician practices generated strong financial performance and established a unique market position. We strategically elevated this in the marketing process to drive competition and achieve a valuation above the expected range. But value wasn’t the only factor at play in this sale. To take advantage of favorable tax rates, PSR’s owners needed to close within seven months. Knowing time was of the essence, we advised PSR to bring in a larger number of bidders than usual for the second round of the process to increase certainty of close on an expedited timeline.

After rapidly assembling marketing materials, we reached out to a wide range of companies and targeted a broad, high-quality group for management meetings during PSR’s second round. This decision kept the process most competitive and produced a larger pool of buyers—providing PSR with the best shot to close at a high value on their accelerated timeline.

After receiving initial bids in late summer, PSR secured a pre-emptive offer in the fall from Intermedix, a strategic partner who was able to close quickly. Intermedix’s focus on emergency medicine billing and emergency response systems aligned with PSR’s work—and their offer also aligned with our initial valuation for PSR. Together, these factors made Intermedix the clear-cut choice for PSR.